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MSNBC
Feb 6, 2013 1:00am PST
trillion deficits are sapping the country of its energy and prosperity. trillion deficits, his driving passion. everybody loves john boehner's passion. but this is supposedly what he feels so passionate about. this is a chart of the country's budget deficit levels every year. red bars are president bush's deficits from 2008 and 2009. blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brainstorming via e-mail about what they wanted to call a new product they were working on.
MSNBC
Feb 6, 2013 12:00pm PST
. that's what this is about. our deficit has been coming down and the patient approach is to recognize that we actually have time. we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for fami
MSNBC
Feb 4, 2013 6:00am PST
deficit reduction. the president told super bowl fans reducing the deficit will require more taxes. >> can we combine some smart spending cuts because there's still some waste in government, can we reform our health care programs in particular and can we close loopholes and productions that folks who are well connected and have a lot of accountants can take advantage of. there's no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. >> president also warned congress about the danger of alowing the sequester to go into effect. >> washington cannot continually operate under a cloud of crisis. that freezes up consumers, gets businesses worried. we can't afford the self-inflicted wounds. >> no another tweet david plouffe said message delivered to big audience on balanced budget, deficit reduction, economy growth. on abc, an unlikely name was invoked for direction. >> i think what we need to do is do some things mitt romney taungd abo talked about. he said there are tax loopholes that should be closed. there are efforts being made
MSNBC
Feb 7, 2013 12:00am PST
two-thirds of deficit reduction has come from cuts to domestic programs, and it's not exactly fair. but now the house progressive caucus has come out with what they call the balancing act. it's a common-sense plan to reduce the deficit by closing tax loopholes and cutting wasteful defense spending. here is the chart of the plan. there is $1.7 trillion in new revenue. the $1.7 trillion in spending cuts is still there. this looks like a much fairer chart than the current system, don't you think? and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fuel subsidies for oil companies that are raking in massive profits. exxonmobil, you know what their profit was? $44 billion in 2012. the last thing they need right now is your tax dollars as subsidy. the balancing act also closes other pointless loopholes the rich take advantage of. we shou
MSNBC
Feb 5, 2013 10:00am PST
inevitability for the reasons you outlined, that everybody can have hands off and watch the deficit go down by what they built into this system, what was intended to be the ultimate stick because they had not been able to resolve longer term solutions to the budget, so these sweeping cuts would help to kind of reset the order and put the country on a path to saving some money. you have republicans now, and fiscal conservatives, particularly, who say that if the sequester does happen, it will be a way to force the country into recognizing the need for further cuts. as some of the measures go into effect, that would create another time of urgency to get to the table and talk about this. the president and senate democrats will talk about additional tax revenue which they thought was settled as a way to put this forward. what is happening where senate democrats are having a retreat, meeting behind closed doors, looking at how long could they delay the sequester, how much time could they buy themselves, and how would they pay pour it? would there be cuts elsewhere or new revenue, some ki
MSNBC
Feb 6, 2013 2:30am PST
reforms that protect our national defense. we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to
MSNBC
Feb 2, 2013 9:00am PST
times" economist argued why the u.s. should spend now and worry about deficit reduction later. here it is. >> dashing spending when you still have depressed economy is really destructive. it's probably even counterproductive even in purely fiscal terms. we should be sustaining government spending until we have a stronger economic recovery. >> this is not a hard call. as long as we have 4 million people who have been unemployed for more than a year, this is not a time to be worrying about reducing the budget deficit. give me something that looks more like a normal employment situation and i'll become a deficit hawk but not now. >> do you subscribe to that, jared? or is that too extreme? >> not at all. i think paul's exactly right. paul and i share the following thing. we're deficit doves in a down economy, and deficit hawks in a strong economy. at a time like this, what you really need is faster growth. by the way, not only will that help put more people to work, but it will actually help reduce your budget deficit ironically because those people will be working, paying taxes, they won'
MSNBC
Feb 8, 2013 10:00pm PST
these defense cuts and deficit hawks, conservatives, tea partiers are putting moderate republicans in a bind saying this is cutting our deficit. let's go for it. >> the grand irony, of course, is the fact that the number -- if you poll people their number one issue is jobs, right? it continues to be jobs. and $120 billion austerity crunch, the numbers being bantered around, in exchange for the sequester, which is like $85 billion. whatever it is, right, that's a big chunk. that will have an effect, negative jobs effect, no question. >> it is going to have an effect, i agree with you, chris. here is what i think. i think it is a risk. there will probably be a small recession. we had a .1 decrease in gdp last time. this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cli
MSNBC
Feb 7, 2013 7:00pm PST
we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90s, they have to say, what happened after 2000. because by making
MSNBC
Feb 6, 2013 3:00am PST
. >> and more, exactly. >>> other news. a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that federal spending cuts will go into effect march 1st says the government will run a deficit of $845 billion this year compared to last year's $1.1 trillion shortfall. but the cbo's ten-year outlook predicts those improvements will not last. it warns that an aging population will drive up entitlement spending and rising interest rates will put the debt at unsustainable levels. if current laws remain in place, debt by 2023 only ten years from now will equal 77% of gdp. that's roughly double the 39% average seen over the past 40 years. >>> and president obama is asking lawmakers to take quick action as a march 1st deadline approaches that will trigger deep spending cuts. "the new york times" writes this morning that "mr. obama, who missed a deadline this week to submit his annual budget to congress, acknowledged on tuesday that a broader deficit agreement is unlikely to
MSNBC
Feb 3, 2013 5:00am PST
versus consumption plus investment and minus your trade deficit, right? so if it's not going to consumption and it's going into the pockets of the top 1% or whatever, why aren't we seeing that reflected in investment? in fact, we saw very good business and investment numbers in the latest economic data. where are those dollars disappearing to? >> people invest when there's no return. >> excess capacity, you're not going to build more excess capacity just because the fed has low interest rates. i mean, if you look at investment overall, before the crisis, about 40% of all investment was in real estate. now, that is going to be damp dampened just because we built too many houses. >> and we had a bust, right? >> and we had a bust. the good news was a lot of them were showedly built and they'll fall apart and we'll have to reconstruct them. >> thank heavens. >> but the fact is, we overbuilt. the other part is actually not doing badly, given how weak demand is. it's not a lack of money. it's not the weaknesses in our financial system. that was one of the big mistakes obama made, but
MSNBC
Feb 6, 2013 1:00pm PST
, deficits are decreasing. however, all i ever hear from republicans is the president needs to get serious. from speaker john boehner. that's the best impersonation i can give you. >> it's not bad. >> wasn't very good, nothing personal. >> but dana, is that it? >> well, that was a little raspy, your john boehner. but i think you've captured the sentiment, more or less correctly. and yes, the cbo report shows that the deficit is shrinking. but it is also showing the efforts to shrink the deficit have taken away from growth and the economy. you can't have one of these things without the other. now, i think there's a fallacy in the first question you posed to jared. that is that republicans would be very upset if there were a double-dip recession in a political sense as rush limbaugh and others have stated, they may be in a stronger position if the economy goes back into recession. then the president and his majority party will be less powerful. so they actually have a political incentive. >> hang on a second, dana. you're saying something that's troublingly close to the idea that the
MSNBC
Feb 8, 2013 7:00am PST
you need deficit spending to get it moving. republicans used to agree with that. even in 2007 and 2008, they were proposing different stimulus measures. they no longer agree with the idea that they get the economy moving in a rough time. so maybe you have to actually have some spending cuts go into effect and see the effect on the economy for them to recognize the fact that oh, yes, if we take this money out of the economy, the economy will go down. that's what happened last quarter. if you hit the pentagon and if you hit domestic spending there's no question that the economy will retreat. so maybe they actually have to see that happen and then there will be some type of political reckoning and a turnaround and we can talk rationally about how to get this economy going again and create jobs. >> of course the president insisted -- and he talked about this yesterday -- he thinks we have to stop lurching from crisis to crisis. >> we continue to have these self-inflicted crisis here in washington that suddenly leads everybody to tap the brakes. >> i guess the alternative, cheryl, is t
MSNBC
Feb 6, 2013 5:00pm PST
make cost-cutting measures. i mean, they've been running in the deficit for quite a while. >> you know, those folks look like just hard-working knowledgeable americans that care about the country. but they're so wrong. it's not about e-mails and it's not about ecommerce. it's about the republican party destroying the middle class in this country. and i wonder how many of those folks right there who don't rely on the post office, how they're going to feel when their netflix deliveries are delayed. what? they're not here for saturday night family movies? that's right. people definitely take the post office for granted. most everything americans know about the post office is absolutely wrong. they haven't paid attention to the story. and into the mainstream media, here we go. this morning, the "washington post" is telling people that the post office suffered tens of billions of dollars in losses in recent years with the advent of the internet and ecommerce. really? plenty of other media outlets. well, they are taking their information directly from the republican talking points on th
MSNBC
Feb 1, 2013 3:00pm PST
redirected, they changed the conversation so that suddenly we'd be worried about the deficit instead of worried about wall street. this consumer financial bureau, the protection bureau, set up under elizabeth warpen, this focus on regulating banks the reality that we had been raided by wall street, that all of that got turned around so that instead, it somehow became a govpt deficit problem when it was never that. >> and it was that deregulation that caused us to have a problem. and dana, if we go back, because a lot of people forget where we came from and how we were able to overcome some insurmountable odds to get where we are today even though we have a long way to go. if you go back to when president obama came into aufsz office, 2009, on the eve of february 2009 jobs report, which turned out to be the worst in 34 years, the president called for action on the stimulus package. let me show you what the president said. >> the time for talk is over. the time for action is now. because we know that if we do not act, a bad situation will become dramatically worse. and i refuse to let tha
MSNBC
Feb 4, 2013 3:00am PST
it comes to tackling the nation's deficit, president obama said sunday in an interview with cbs news there needs to be revenue involved. and it sounds like he might be interested in going after people like mitt romney. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. and we can do it in a gradual way so that it doesn't have a huge impact. and as i said, when you look at some of these deductions that certain folks are able to take advantage of, the average person can't take advantage of them. the average person doesn't have access to cayman island accounts. the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they've earned. so we just want to make sure that the whole system is fair. >> all right. steve, help me out here. i think the democrats are holding a losing hand if they come back and ask for more taxes. they talk about raising tax rates on anybody. but if we're talking about closing loopholes, carried interest, sort of doi
MSNBC
Feb 8, 2013 3:00am PST
. coming up next, how can washington solve the deficit and spur growth? "new york times" washington bureau chief david leonhard may have the answers, and he joins us live next. this happy couple used capital one venture miles for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ if you don't have something important to say? [ female announcer ] some people like to pretend a flood could never happen to t
MSNBC
Feb 1, 2013 10:00pm PST
saying the economy really needed was deficit reduction. and this is a period in which we didn't come to a big deficit reduction deal. what we did is raise taxes. it cut the deficit a bit, but not a big deal. what happened to the markets? somehow we kept adding jobs and the stock market did really well. it all worked out reasonably okay. so here is what we learned. cutting government spending hurts economic growth. no doubt about it. that means doing it in a bad economy may not be such a good idea. but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that
MSNBC
Feb 8, 2013 11:00am PST
economist paul krugman on this. any time talking about deficits, we are buying in to the right wing mantra somehow deficits are killing the economy. look at great britain and doing with their austerity plans and doesn't add up. i'm much more of the mind to be proactively looking at infrastructure investment like many of the business advisers told president obama should happen. people from commerce, from industry. i get it. that won't happen as long as house republicans are dead set against it. and what we're left with is unfortunately in my view a detente to put the discussion in the frame the republicans want. what about deficits? we have a jobs crisis in this country. not a deficit crisis. to me, the whole conversation has been pushed to the right further than it should be. >> and karen, on a last note, in anticipation of the president's speech, the white house released numbers on the people affected by the cuts. i believe around 600,000, between 600,000 and 800,000 suffering as a result of cuts to food stamps and other program that is people need to survive these days and at leas
MSNBC
Feb 4, 2013 3:00pm PST
fair. that it's transparent. that we're reducing our deficit in a way that doesn't hamper growth, reduce the kinds of strategies that we need in order to make sure that we're creating good jobs and a strong middle class. >> strong middle class. make sure the system is fair. it's game on for this president. joining me now is political strategist angela rye. thank you both for being with us. >> thank you, reverend al. >> jarret, let me go to you first. tax fairness is a big part of what the president wants to get done. take a look at this. there are many middle class households that are actually paying a higher tax rate than households that make over a million dollars a year because they don't get most of their money from investments. will the president's policies change this problem? >> they will and they already are, to some extent. but there's more to be done there, just like the president just said. in the deal that ended the fiscal cliff, the tax rate at least for folks at the very top of the income scale, above $450,000, on capital gains and dividends, capital gains is what y
MSNBC
Feb 5, 2013 3:00pm PST
balanced approach to deficit reduction as you described. one that asks the wealthiest americans to pay a bit more while making sure we reduce spending and make responsible spending cuts without cutting the legs out from under the economy. and i'm sure mr. bernstein would agree that as the economist i heard when i was a member of the budget committee repeatedly say that you can't cut so much so fast because in a recovery that is already more fragile than we'd like to see, you want to make sure you don't slow or stall that recovery. that's what the republicans are risking. it's really -- you know, i wish and i know that americans across the country wish that there would just be a massive outbreak of responsibility in the republican conference so that we could bring them to the table, sit down, and work together to avoid massive spending cuts which they seem willing to allow to happen. >> a massive outbreak of responsibility. wouldn't that be a great occurrence? let me ask you, jared. you may agree, but senator mitch mcconnell clearly doesn't seem to agree. let me show you what he said to
MSNBC
Feb 5, 2013 3:00am PST
. >> interesting, even the paul ryan budget i agree had more detail than other things. most like the deficit in the ryan budget was we will save unbelievable amounts of money by turning medicaid over to the states and somehow they will figure it out. >> that's more information than other people are putting out. >> talk about missing deadlines, now this is a really low bar. >> what is the democratic plan in the senate, let's say, or in the white house, to save medicar medicare? >> medicare actually - actually -- interesting you focus on that. medicare has been a pretty good story the past few years. my view is double down on things happening. medicare grew only by 3% last fiscal year, unbelievable low by standards. >> will you take that gamble >> for the next five years, i will take a 50/50 bet medicare will continue to grow at much slower rates than historically. >> down to 2 1/2, 3% the next couple years. >> that will tick up a little bit as the economy picks back up but i don't think we'll see the 10% growth rate. >> so you don't think medicare is a problem? >> it is a problem but this is
MSNBC
Feb 6, 2013 8:00am PST
we're going. the 2013 deficit standing at $845 billion. last year it was $1.1 trillion. so obviously we're going in the right direction. but they do give a grim fast if there is a type of austerity measure that is in place while the economy remains very fragile. >> well, that's right. there are two things we have to work on at the same time. the most important thing is to make sure that we continue to see an economic recovery, that we do what we can to accelerate that recovery, put more people back to work. and the sequester would undercut that effort, because if you take that much money out of the economy very rapidly in this across-the-board way, it will result in lost jobs, which is why we proposed this alternative. now over the longer term, there's no doubt we have to reduce our deficit, but we have to do it in a smart and balanced way as the president has said, and that's why we have proposed a combination of cuts and we've already done $1.5 trillion in cuts as part of the budget control act and other action. we did some revenue as part of the most recent agreement on the fiscal
MSNBC
Feb 5, 2013 8:00pm PST
issues like education and health care and spend less time talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the national council for a new america that didn't work. a year later, cantor was back at it. he was one of the young guns ready to take the republican party by storm. >> there is a better way, and a new team is ready to bring america back. eric cantor, kevin mccarthy, paul ryan joined by common-sense conservative candidates from across the country. together, they are ready to make history. together they are the young guns. >> the good old days. in 2011, cantor launched the you cut program. he wanted to get the public to vote on weekly cuts to federal government. another year, another failure. so today cantor launched the "making
MSNBC
Feb 5, 2013 11:00pm PST
practical. i think for republicans they can't be the party of bob dole caring only about the deficit. they have to care about practical -- the reason you're so upset is you know it was a good speech. >> he went over to the aei, the number one war center, this is totally neocon. your thoughts. this is hopeless. i thought he'd admit the truth here today. >> it was a bit jarring to hear some of that coming from eric cantor who has been a warrior. >> hasn't he been the guy standing behind boehner's back waiting to trip him over because he's been too moderate? >> no question. he's been standing off center stage waiting for his opportunity to become speaker. i thought that there was a lot of practicality in the speech but i didn't think there were really big ideas. i think -- >> it was like sundries and notions in a drugstore. little items, like telling colleges they got to tell people what employment prospects there are for english majors. what's that about? cantor -- let's take a look. he took a approach that the university education should be more like a vocational school, a tech school
MSNBC
Feb 8, 2013 2:30am PST
immigration, guns, and tackling the federal deficit. president was looking to rally house democrats at their annual retreat saying he wanted a long-term budget deal but new revenues must be part of the package. >> i am prepared, eager and anxious to do a big deal, a big package, that ends this governance by crisis where every two weeks or every two months or every six months we are threatening this hardline recovery -- >> the president also discussed a looming automatic budget cuts arguing the public favors his plan for a balanced solution. >>> turning to the topic of guns. the president will continue his push to stop gun violence as the first lady pays tribute to the latest victim. michelle obama is headed to chicago this weekend to attend the funeral of 15-year-old what day yeah pendleton. the honors student was shot last week in a chicago park just days after performing at inauguration students in d.c. pendleton was among 40 people gunned down in chicago last month, making january its deadliest month in over a deck. >> the white house confirms senior adviser valerie jarrett and e
MSNBC
Feb 6, 2013 7:00am PST
the deficit, projected to be $845 billion, that would be under a trillion for the first time since 2008. does this play into all of this discussion at all? >> i mean, it's fairly consistent with the president's proposal, which is to say he doesn't want to cut spending too much right now. he wants to do some long-term spending reduction on the de deficit. republicans say don't trust him. i don't think republicans will be swayed by the cbo report. they have what they see as a mandate from voters, cut spending. >> let me bring in congressman john yarmuth. what would you like to see? >> i think some of the spending you mentioned could be very youthful. some of the farm subsidies that are unjustified. i'd like to consider a securities transaction pack, the so called wall street packs that can raise tens of billions of dollars. and we can do some cutting, but in that cbo report that you mentioned, it also said that the kind of austerity program which the sequester would represent would be damaging to the recovery, would hurt gdp, and, of course, that's in line with what most economists b
MSNBC
Feb 7, 2013 3:00pm PST
yes, we need to reduce the deficit, but it shouldn't just be on the backs of seniors. it shouldn't just be on the backs of young people trying to get a college education. >> the president won the fairness debate in the fall. that's what the election was all about. today, the president said that argument will define the fight ahead on guns, immigration, women's rights, gay rights. the whole agenda. >> the question i will ask myself on every item, every issue, is is this helping to make sure that everybody has got a fair shot and everybody is doing their fair share and everybody is playing by the same rules. >> this president is gearing up to push for real change. and he's compared to confront the gop if they don't want to compromise. joining me now is congresswoman james shakowski who was at the democratic retreat with the president. she's part of the progressive caucus which produced his own plan this week to trim the deficit without cuts to our safety net. congresswoman, let me go to you first. the president made it clear he'll fight for what he believes is right. will republicans
MSNBC
Feb 9, 2013 11:00am PST
republicans can still get together on a balanced solution to the deficit crisis. republican senator mitch mcconnell says that he know that sequestration would have consequences, but he blames president obama for not putting forward an acceptable plan to prevent it. for more on that, jonathan strong, staff writer, role call, alexander burns and national political reporter with politico. good afternoon to both of you. >> hello. >> outgoing defense secretary leon panetta warned that the $85 billion in cuts would curtail american naval operations by a full third and could force furloughs of as many as 800,000 civilian workers. take a listen to what he said. >> it is difficult to believe, frankly, that congress would simply stand aside. stand aside, fail to make the decisions necessary to resolve this crisis and allow the defense economy, equality of life of america to be irreparably damaged. >> how damaging would these cuts be to our national security? >> it's a great question. the impact is going to be fairly dramatic to some of the employees, civilian employees of the pentagon and some othe
MSNBC
Feb 4, 2013 2:30am PST
additional revenue, coupled with smart spending reductions in order to bring down our deficits. we can do it in a gradual way. when you look at these deductions that people are able to take advantage of, the average person can't take advantage of. the average person doesn't have access to cayman island accounts. so, we just want to make sure that the whole system is fair. >> all right, today is the day one in the new job for secretary of state john kerry, he got an early start over the weekend, he reached out to world leaders by phone, pledging to continue pushing for peace talks. >>> the senate armed services committee is expected to vote his nomination to senate. former white house press secretary robert gibbs was on meet the press, admitted that it wasn't hagel's finest hour. >> the disconcerting thing for anybody who watched it he seemed unimpressive and unprepared on the questions that quite frankly he knew was coming. i'm reminded three weeks into the first term of the president obama administration, treasury secretary timothy geithner gives a, the market dropped 382 points. two
MSNBC
Feb 8, 2013 2:00pm PST
was medicare part d a ballooning deficit, and a financial crisis that devastated the country, a failed war, a war in iraq that was ill-advised to put it mildly, and now the cuckoo's nest who he cultivated as the ground troops, they think they're in charge and they're not going to listen to him saying they're not. >> what was the big thing with karl rove? did he start a war to celebrate the tax cut or have a tax cut to celebrate the war. i mean, he put it all together. i forgot to mention the prescription drug thing thrown in without financing it. >> right, right, right. and, you know, he did do a great job, you know, mobilizing and energizing the right wing base to get behind george w. bush, and then he and others did a great job in the last few years under barack obama of energizing them by demonizing barack obama and pushing them to the fringe. and now he comes along and says, wait a second, you've gone too far. this monster that i have helped to create has gone too far and i'm picking up the pitchfork and i got my fire, my torches, and i'm going to go door to door backed by b
MSNBC
Feb 1, 2013 8:00pm PST
economy with younger workers than in a sluggish one with budget deficits. immigration is not what hurts them, and it is not standing in the way of aiding them. in 2007, the congressional budget office found that legalizing undocumented immigrants would increase revenue by $48 billion, while costing only $3 billion increased public services. and that is before you get into the broader economic benefits. there are very few free lunches in public policy. usually it is a realm of hard choices, but taking advantage of our unique position as the country with the world's best and brightest, desperately a way to go? that is surely correct. "the ed show" is up next. >>> good evening, americans, and welcome to "the ed show" from new york. hillary clinton ends her run as secretary of state by nailing republicans for who they really are. i love it. this is "the ed show." let's get to work. >> i am very proud to have been secretary of state. >> hillary clinton gives her final farewell as secretary of state and doesn't mince parting words about the republicans refusing to face facts. karen finn
MSNBC
Feb 7, 2013 8:00pm PST
in a deficit-neutral way so that we will lower tax rates and eliminate these loopholes. to my mind just this one piece of legislation, which i think is a sensible piece of legislation, support i believe by the vast majority of the people in this country, could bring in all by itself close to $600 billion in a ten-year period. the choice as americans that we face, do you cut programs that the middle class and working people desperately need or do you ask finally large corporations who have gotten away with murder for years to start paying their fair share? >> even if we weren't looking at cuts at the big three, this is still terribly wrong. there's still no fairness in this game whatsoever. and they have lobbyists have gamed this all the way to the floor of the senate. and there's no question that it needs to be changed. and if this election was about change and if it's about fairness for the middle class, i would expect every progressive group and every democrat and the president to get on board big-time on this. senator sanders -- >> you're absolutely right. i would only add that
MSNBC
Feb 4, 2013 8:00pm PST
beltway, the media keeps pushing the president on debt and deficits. i'd like to know also, i don't you think of the fundamental issues confronting this country, but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, hadiya pendleton, who marched in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january? that might be relevant to the issue of how do you stop trafficking of illegal weapons and relevant to the actual policy debates under way in this country. >> richard, why does inside the beltway media have a propensity to just focus on things that people don't care about? >> look, i've been part of that press corps. i was there actually at the time in the run-up to the war in iraq, and, by the way, there were people asking those questions, but as a pack, as a pack mentality, this is a game. look, the war in iraq was serious. don't get me wrong. but we're talking about kids in america who were killed and how to respond to that. and so, you know, the disjoint between this photo, what the president doe
MSNBC
Feb 7, 2013 10:00am PST
families. and that means a balanced package that will reduce our long-term deficit and debt, but that still allows us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle, their position is we're concerned about the sequester. we recognize that just cutting the federal spending with t
MSNBC
Feb 8, 2013 6:00am PST
congress and let's come back and talk about it. >> if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me. i like to think that mikan dore and bluntness will reassure you you will get straight answers from me, maybe not always the ones you like, but you will get answers and they will reflect my honest views. >> senator, you've been one of the most high-profile critics of the administration for not giving as much information particularly the legal documentation underpinning the targeting of u.s. citizens. is there a current trust deficit between the senate intelligence committee and the administration, and can someone like john brennan heal it or not? >> he did move in the right direction in a number of areas. i was very pleased when he said that if a mistake was made on a targeted killing matter, he'd make a public acknowledgement, something like that. i think he did take some steps in the right direction and the president did as well when he called on wednesday night and said he would reverse course and make additional materials av
MSNBC
Feb 1, 2013 6:00am PST
sustainable budget, bring our deficits down in a responsible, balanced way. >> does the president -- considering what the defense cuts did to the contraction of the u.s. economy in the fourth quarter, dois the president goi to be more aggressive in trying to find a way to stop the so-called sequester, the automatic defense cuts that would go through, which could it looks like now -- we already know the economic impact defense cuts have had last quarter. these would obviously slow down the economy even more. is the president going to refocus on this. >> the president has been focused on this for some time. the president made a submission to the super committee a year ago or so, which would have reduced our deficits in a balanced way, eliminated the sequester and his negotiations with the congress on the fiscal cliff. he did the same thing. so this is something that the president has provided a plan. the sequester is bad policy. it's something that we should eliminate. it wasn't intended to take place. and we got a taste for the impact that the sequester might have if it were to tak
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